6 key business benefits from our members
Why net zero isn’t just good for our planet … it’s good business!
While the transition to net zero must move at pace, equally important is ensuring businesses have the economic conditions they need to grow and thrive.
Net zero cannot come at the expense of business growth. The two must not be mutually exclusive, instead complementing each other to create a prosperous future.
Embracing net zero can bring with it a variety of benefits for businesses.
Whether it’s tendering for new contracts, or giving yourself a competitive advantage in the marketplace, here are some of the business benefits associated with net zero.
1. Gain a competitive edge
Showcasing your organisation’s green credentials enhances your reputation as a business, and can play an important role in both attracting and retaining customers.
The British Chambers of Commerce found that only 11 per cent of respondents measure the carbon footprint of their business.
With customers increasingly looking for environmentally friendly products, putting sustainability at the heart of your business model is a great way to stand out.
Commercial cleaning company, and Oh Yes! member, Lemonclean has done just that.
Vicky Doyle, the company’s Founder, said: “We’re increasingly finding that our business model, driven by sustainability, is both retaining and attracting customers.
“The approach we have had from day one has underpinned our growth as a business. It’s been a real USP for us.”
2. Reduced costs
Measuring and understanding the energy consumption of your building, or estate, can bring with it large cost savings.
Once you know which buildings, or spaces, contribute significantly to energy consumption, you can produce a tailored reduction plan to tackle it.
Switching to a 100% renewable energy tariff can help reduce your bills, and investing in solar panels reduces your reliance on the grid and can provide a significant chunk of your site’s energy needs.
NHS Humber Health Partnership invested in a 5MW solar farm which, at peak generation, can fully power its Castle Hill Hospital site in Cottingham.
Marc Beaumont, Head of Sustainability at the Trust, said: “Renewable energy has saved us £1m a year, from the solar farm alone, and the payback time on that project is around four years.
“We have also reduced the use of nitrous oxide – a gas used in anaesthesia – across the Trust by 80 per cent. That alone has saved us around £40,000 a year.”
3. Attracting investment
Becoming a net zero business may be attractive for investors and shareholders looking for companies with a long-term sustainable strategy.
Funding and grant schemes are available for companies wanting to invest, including the Department for Energy Security and Net Zero’s Public Sector Low Carbon Skills Fund.
For organisations which rely on funding to deliver their activities, progress on net zero may even be a requirement.
Oh Yes! member Hull Truck Theatre receives critical funding from Arts Council England. To secure that funding, the theatre is accountable in a variety of ways – one of those being sustainability.
In response, Hull Truck has Theatre Green Book, a standard agreed by leading voices and bodies across the arts and cultural sectors, to deliver environmentally sustainable theatre.
4. Tender for new contracts
For businesses tendering for contracts, particularly in the public sector, displaying progress in sustainability is vital.
Legislation now dictates that social value, incorporating sustainability, must be worth at least 10 per cent of weighting in tenders with government departments, executive agencies and public bodies.
That means if you’re not making progress with your carbon footprint, you could miss out on significant contracts.
Emily Redpath is an Account Director at advertising agency Forward & Thinking.
She said: “When pitching to prospective clients, they often ask what stage we’re at on our sustainability journey.
“We realised some time ago we were not where we needed to be. Oh Yes! Net Zero has helped to change that.”
5. Stand out when recruiting top talent
With net zero at the forefront of peoples’ minds, companies making good progress with sustainability may also have an advantage when it comes to hiring.
A study by Deloitte found that more than 70 per cent of younger workers said a company’s environmental practices would influence their decision to stay long-term.
With workplace pride a critical part of hiring the right people, with the right skills, net zero can be a powerful tool to attract top talent.
It’s a way of future-proofing your business and standing out from competitors.
6. Support the drive to net zero
When you break it right down, net zero is good for business. It’s also good for our planet.
The UK Government remains committed to reaching net zero by 2050. Net zero is legally binding, and with legislation evolving as that target draws closer, every organisation must play its part.
Oh Yes! Net Zero now has more than 170 active members, all totally committed to reducing their carbon footprint.
With free, expert advice and support available through our Carbon Clinic Workshops, there’s never been a better time to get started.
To sign up for a workshop, or for more details, visit www.ohyesnetzero.uk/news/about-carbon-clinic-workshops
